Ireland's Resources Giveaway Continues

Thursday March 06, 2008 13:16

by netrebko

Ray Burke deals still being offered to oil companies

Yesterday, another four exploration licences were awarded to energy companies who want to exploit the natural resources off the west coast of Ireland. Estimates of the value of our resources vary, but the rising price of energy around the world would indicate that large amounts of money are at stake. The Department of Natural Resources released figures last May saying that there are at least 10 billion barrels of oil in Irish waters. There may be much more. Oil is currently valued at $104 per barrel.

In terms of royalties and returns for the people of Ireland, the terms of current deals are exactly the same as those agreed by Ray Burke and Bertie Ahern, back when oil was was considerably cheaper and Ireland was considerably poorer (and consequently needed all the investment it could get).

The current line from the Minister for Natural Resources, Green Party TD Eamon Ryan, is that Ireland needs to award these licences to these companies in the hope that we can reduce our dependence on imported energy.

What he doesn't point out is that by giving 100 per cent of the oil and gas away to the big energy companies, and not taking any royalty payments, and not having a state company holding a percentage stake in the oil and gas found in Irish waters, he's effectively exporting Irish natural resources to companies like Exxon, who are bound to sell it to the highest bidder.

In terms of security of supply, there is simply no benefit to handing over these licences to Exxon and the rest. There is no contractual obligation for these companies to sell these resources to anyone in Ireland. In case you think they might have difficulties getting the stuff out of the country, the Department of Natural resources has just announced that it is studying the possibility of building an oil interconnector pipeline to Britain (they can already export our natural gas).

People will no doubt remember that Minister Ryan announced changes to the tax arrangements for companies operating in Irish waters late last year. These changes were cosmetic, and many observers doubt that the oil majors, with their long history of "creative accounting" (witness Shell's famous reserves fraud scandal) will find it difficult to minimise the tax they might eventually pay.

What the Minister is failing to do is ensure a genuine stake for the people of Ireland in their own oil and gas reserves, and provide a sustainable and long term benefit for the people who live in Ireland. As it stands, these deals only benefit Irish people who are lucky enough to have shares in oil companies. You might think this wouldn't be of much interest to Green Party representatives, but you'd be wrong.

Excerpts from three relevant articles (with links to full pieces):

DUBLIN, March 5 - Ireland on Wednesday awarded four offshore oil and gas exploration licences to three groups, which included Exxon Mobil Corp., in a bid to reduce the country's dependence on imported fuels. The licences cover block areas totalling 4,963 square km in the Porcupine Basin, off the west coast, the energy ministry said.

Exxon Mobil, Providence Resources and Sosina Exploration received two licences.

Island Oil and Gas together with Supernova Ireland Resources received one licence to drill.

Separately, a bidding group comprising Providence Resources, Sosina Exploration and Challenger Minerals was also granted one licence.

Energy Minister Eamon Ryan, whose Green Party entered into a coalition government last year, said he hoped the permits would lead to the discovery and development of new resources.

"Currently 90 percent of our energy comes from imported fossil fuels," he said in a statement. "We need to reduce this level of exposure."

Read the rest of the article here: http://www.reuters.com/article/OILINT/idUSL0544429420080305

Ryan’s oil security review will cost government €224,000
Sunday Business Post
24 February 2008 By Dick O’Brien

Energy minister Eamon Ryan is spending almost a quarter of a million euro on a review of the security of Ireland’s oil supplies, which will include assessing the possibility of constructing an oil pipeline to Britain or continental Europe.

The €224,000 contract has been awarded to Texas-based energy consultants Purvin & Gertz, which will conduct the study in partnership with Dublin-based engineering consultancy Byrne O’Cleirigh.

One issue the consortium has been asked to examine is the cost and benefits of a possible oil interconnection to Britain or continental Europe. It has also been tasked with assessing possible pipeline distribution within Ireland, gauging refining capability and examining possible impacts of alternative liquid fuels.

Read the rest of the article here:
http://www.sbpost.ie/post/pages/p/story.aspx-qqqt=IRELA...1.asp

Cuffe quits as Environment spokesman

RTE NEWS Tuesday, 10 June 2003 17:34

The Green Party TD Ciaran Cuffe has agreed to step aside as the party's Environment Spokesman.

The move comes following the controversy over Mr Cuffe's ownership of shares in a number of oil companies.

He will remain as the party's Justice and Law Reform spokesman.

Mr Cuffe, who represents Dún Laoghaire, announced his decision at a meeting of the Parliamentary Party in Leinster House this morning.

The Green TD inherited the shares from his mother three years ago.

The $1.3m share portfolio includes investments of almost $70,000 in six oil exploration companies.

Party leader Trevor Sargent, accepting Deputy Cuffe's offer to stand aside, said it was important to note that at all times Deputy Cuffe had been in full compliance with the law and all relevant regulations.

He described the incident as 'a lesson to all of us in the Green Party'.

Read the rest of the article here:
http://www.rte.ie/news/2003/0610/green.html

Ray Burke and Bertie Ahern, architects of the original deals with the oil companies

Eamon Ryan, carrying on the tradition of Burke and Ahern

save preference

Comments (16 of 16)

accommodating!

by Realist

Thu Mar 06, 2008 18:30

In the original posting it states
"Currently 90 percent of our energy comes from imported fossil fuels," he said in a statement. "We need to reduce this level of exposure."
The Shell-to-sea group should look carefully at that statement, if the minister has stated that his intention is the "need to reduce this level of exposure", then what are the chances he (minister) will refuse Shell any consent they require!.

Realist?

by GloR

Thu Mar 06, 2008 18:41

what are the chances Eamon Ryan won't back Shell? Because he's worried about Climate change?

This is the same Green Party who are overseeing the building of a highway through a world heritage site to please some property developers.

All sorts of carbon related infrastructure is going up - extensions to power stations and new ones (including a coal burning station in Mayo) and even a new runway for Knock airport. Climate change is, for the Green Party, something to talk about, not something to do anything about...

fuck it. who cares anymore.its too late!

by Hedonist

Fri Mar 07, 2008 06:32

http://www.guardian.co.uk/theguardian/2008/mar/01/scien...hange

http://www.metafilter.com/69567/Lovelock-to-planet-Enjo...ckers

disgrace

by lyncher - eire

Fri Mar 07, 2008 11:02

to the people of ireland,
its a disgrace that we should stand by while our so called govertment gives away one of the most valueable assets this state has,
if we were to import our own workers to the west coast foreign or national to harvest the natural resources what a rich and healthy country we would become .
we could then see trough our constatution and every man and woman would have the best of health care cheap gas and oil to heat their house good school and we would all be treated equally this is a 1 in a life time opportunity for this country and what do we do we give it all away their has to be more to it than this as far as im conncerned someone behind the scene is gonna make a killing on this be it goverment ministers or friends or family but for certain it is not going to be the people of the irish state.
is their no way we can take this to the courts or even have a debate about it .
oil may be exspensive now but by the time they get around to harvesting this supply it be even more exspensive.
it reminds me alot of the east link toll bridge sold for pittance and now worth millions.
why is their noother partys makeing an uproar about this.
are these companys contributing to the party fundraiser account.
if anybody has any information on this please post as this is of high importance never befor has this country came across an asset worth 1000 billion american dollors and just given it away questions have to be asked

can any body tell me how much these licences cost.

raffle

by mufti_el_ping - burrenwan.org

Sat Mar 08, 2008 01:59

well, how much >does< it cost to buy a license? a few quid from everyone in the audience, and we own the show.

join us in london

by Gluaiseacht

Sat Mar 08, 2008 18:13

Join us on our journey to London to highlight these issues. http://www.indymedia.ie/article/86068

stateside support

by in nyc these days

Sat Mar 08, 2008 18:33

I meet up with some members of the NIFC in Queens NY during the 'alternative' all inclusive St Pats parade. they were handing out alot of printed material regarding Shell to Sea/ rossport to the crowds and i gave them a hand with it. In case youre intrested about 200 Fliers about bring the pipeline back to shell were distributed.

Lyncher

by Fearbolg - S2S

Sun Mar 09, 2008 17:35

You're articulating exactly the message we in S2S have been trying to convey for years. Yes, our financial security has been given away

in a deal brokered by a Minister who was subsequently jailed for fraudulent dealing; yes, every subsequent Government has supported

and protected the Ray Burke Giveaway on the pathetic premise that unless we give all our Natural Resources to the Multinationals for

nothing they'll take off and never come back; and yes, the opposition parties have neither seen, heard nor spoken any criticism of the

most treasonous act ever perpetrated on the people of Ireland, compounded by the use of our Garda Síochána as a battering ram to

remove any opposition on the ground.

That was until now: As the recession begins properly to bite, and as we hear of our biggest leap in unemployed, a pathetic Health

Service, rampant crime and funding for Education being, effectively, frozen, the penny is finally, if slowly, beginning to drop. We've been

conned in the most treacherous way imaginable by our own elected representatives, the most senior of whom can't explain how and

from where he recieved huge sums of money at the very time this deal was being ratified, and while he was Minister for Finance.

It's now time for everyone in this country who isn't still being conned by the Fianna Fáil razzle - dazzle which emerged from a fortunate

economic revolution which they had very little to do with and which they mismanaged pitifully, to demand that we are given back our

rightful ownership of our natural resources before, in their haste to acquiese completely to Shell, etc., the Government gives it all away.

This is no longer about ideology; all our arses are in this now, and it's time we all acted together to secure all our futures. The

Government won't do it unless we make them.

London

by cockney sparrow

Sun Mar 09, 2008 20:37

In comments above, someone have mentioned a trip to London, as a way to highlight the giveaway of resources.

But nobody in London is responsible for this situation.

Those responsible, including the minister who is pretending that giving away all our resources to companies like Exxon somehow makes Ireland more secure (it will actually make us less secure), are Irish politicians making decisions in the Irish parliament.

London has nothing to do with this.

Mobilize The Unions And Students To Vote NO To the Treaty

by G.D.Flynn - International Republican

Mon Mar 10, 2008 14:12

flynnfacultasliterum at hotmail dot com

188 burghsliussingel 3086 vg Rotterdam

When the European Treaty is signed the Bureacht na h'Ereann becomes obsolete ,Bertie Ahern then cannot be IMPEACHED for Gross Mismanagement of Eires Natural Resources.With selling the Gas/Oil in Euros The Republic becomes a Province of Europe,loses it Oil/Gas,loses its Independence and Neutrality,and loses its Bureacht na h'Ereann and its Constitution,!
NOW DO YOU ALL KNOW WHAT ITS ALL ABOUT ?
Yours Respectfully
G.D.Flynn
Flynn O Flynn

action

Mon Mar 10, 2008 16:03

p.elynch at hotmail dot com

if anybody is planning on stageing a rally to highlight what is happening of the west coast of eire the 1000 billion usa dollar giveaway of our natural resources ,120 years budget money.
i would kindly lend my help and support to it email p.elynch@hotmail.com

why does Ryan lie about "reducing exposure to energy imports"? does he really not get it?

by Is he dumb or just playing dumb?

Sun Mar 16, 2008 01:50

http://www.dcmnr.gov.ie/Natural/Petroleum+Affairs+Divis...Round

New oil and gas exploration licences awarded
State set to benefit from continued upswing in investment off Ireland’s shores – Minister Ryan
Dublin, 5th March 2008

Energy Minister Eamon Ryan announced today that, following a detailed evaluation by his Department of the applications received under the Porcupine Licensing Round, four Frontier Exploration Licences have been awarded.

Licences over areas totalling 4,963 square kilometres are being offered to the following groups:

● ExxonMobil, Providence Resources and Sosina Exploration – two licences.
● Island Oil and Gas and Supernova Ireland Resources BV
● Providence Resources, Sosina Exploration and Challenger Minerals

In awarding the licences, Minister Ryan said that he was encouraged by the keen level of interest of the companies involved, all of whom are currently engaged in existing exploration licences. “I hope the licences awarded under the Round will lead to the discovery and development of new hydrocarbon resources which will reduce Ireland’s long-term dependence on energy imports. Currently 90% of our energy comes from imported fossil fuels. We need to reduce this level of exposure.

The award of these licences is indicative of the recent upswing in the level of investment in exploration of the Irish offshore, which is evidenced in the number of exploration authorisations and a corresponding increase in the level of drilling activity.”

Minister Ryan confirmed that profits from these licences are subject to the revised licensing terms he announced last year. Among these terms was a new profit resource rent tax, which provides for a tax take of up to 40% for more profitable discoveries (an increase of 15% from previous rates).

“I am pleased to say that Irish people will benefit from the development of our own indigenous resources”, said Minister Ryan.

ENDS

For further information please contact:
Press Office:
Tel. 01 6782441
Fax. 01 – 6782739
press.office@dcenr.gov.ie

Front Organisation

by Cael

Sun Mar 16, 2008 15:55

The thing you have to realise is that Fianna Fail are not so much a political party as a Front Organisation for the 5% of the population who are in posession of 40% of the wealth. A certain Knight of the British Realm was brazen enough to boast to Forbes Magazine that because he is the biggest media owner in Ireland he was able to get whatever oil prospects he wanted. He then passed them on to Exon Mobile for a colossal profit.

Theres A Few More Big Names Yet

Sun Mar 16, 2008 20:06

Watch the Trial of Peter Mann in Equitorial Guinea, and the Mercenary Group,there will be a few on the Golf Courses and Fishing Rivers when the Court transcripts come out
Mark Thatcher was only a little fish.

Not many

by Who cares?

Sun Apr 06, 2008 23:55

I found myself with a little free time today, and decided to check how much interest Shell related stories generate here on indymedia.
I was Shocked to discover, the truth is that very few people even click on Shell/ natural resource stories.
For example, this story (Ireland's Resources Giveaway Continues) (article/86555) received only "941" hits, that's 0.01% of visits to indymedia.ie during the whole month of march.
I also checked out hits on Shell-To-Sea related stories, and again was surprised by the low number of views of those stories, for example the story ( Innovative funding methods revealed in Shell grant scheme) (article/86882) was viewed "1269 times which is just over 0.01% of the hits on the site for the month!
I assume many of those "hits" were by the same person returning to view any further comments which were added, which would leave the actual number of individuals who read the stories even smaller!

http://stats.indymedia.ie/www/url_200803.html

stats

by counter

Mon Apr 07, 2008 02:56

My, what an interesting way to spend your free time.

Do you think that the seeming lack of interest in this giveaway of the country's resources, and the corrupt methods Shell use to try and build up the notion that they have any consent for the plans, makes it okay?

I would think the issues the issues are the same regardless, and if only one person was reading the story, it would be the same robbery and corruption at work, and so demand the same response.

I would imagine that the only sort of person who would try to talk down the actual content, and discuss the effectiveness of the medium, would be someone who for some reason did not want to engage with the issues. But why would that be?

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Ireland's Resources Giveaway Continues

Comments (16 of 16)